New Issue: HSBC prices $616,000 15-month buffered AMPS linked to iShares MSCI Brazil ETF

By Angela McDaniels

Tacoma, Wash., March 28 - HSBC USA Inc. priced $616,000 of 0% buffered Accelerated Market Participation Securities due June 28, 2012 linked to the iShares MSCI Brazil index fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any fund gain, subject to a maximum return of 19.5%. Investors will receive par if the fund share price declines by 10% or less and will lose 1% for every 1% decline beyond 10%.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Buffered Accelerated Market Participation Securities
Underlying fund:	iShares MSCI Brazil index fund
Amount:	$616,000
Maturity:	June 28, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus double any fund gain, capped at 19.5%; par if fund share price falls by 10% or less; 1% loss for every 1% decline beyond 10%
Initial fund share price:	$75.21
Pricing date:	March 24
Settlement date:	March 29
Agent:	HSBC Securities (USA) Inc.
Fees:	0.5%
Cusip:	4042K1EM1

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